TEHRAN (Iran News) – The Eurozone economy saw a rebound of 12.6% on quarter in the three months to September of 2020, missing +12.7% expected, the second estimate showed on Friday.
On an annualized basis, the bloc’s GDP dropped by 4.4% in Q3 vs. -4.3% seen in the previous readout while missing -4.3% expectations.
Separately, Eurozone September trade balance came in at €24.0 billion vs. €21.9 billion expected. Meanwhile, the EU’s employment change stood at 0.9% QoQ in Q3 vs. -2.9% last.
About Eurozone Preliminary GDP
The Gross Domestic Product released by Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).
FX implications
“Eurozone Preliminary GDP arrives at 12.6% QoQ in Q3 vs. +12.7% expected”
The euro was unperturbed by the downbeat Eurozone growth figures, challenging two-day highs of 1.1830. The spot adds 0.21% so far this Friday.
- source : FXSTREET
